Abu Dhabi developer dips as Asteco releases quarterly report

July 9, 2014 10:46 pm

The Abu Dhabi market index ADXGI fell by 0.10 per cent close at 4,840.23 points on Wednesday, July 9.

Aldar Properties declined by 0.28 per cent, finishing at AED3.60. Real estate services agency Asteco revealed earlier in the day, on average, apartment sales in the UAE climbed by four per cent quarter on quarter and by 29 per cent since the second quarter of 2013. “Villa sales prices remained relatively stable over the same period, showing an average increase of just two percent.”

It adds: “The market received a vote of confidence from investors following the successful off-plan sales launch by Aldar, with its Al Hadeel project at Al Raha Beach, selling out in a matter of hours and Ansam on Yas Island selling approximately 300 units out of 540.”

Gérard Al-Fil